Toggle navigation
Toggle navigation
Home
DCUM Forums
Nanny Forums
Events
About DCUM
Advertising
Search
Recent Topics
Hottest Topics
FAQs and Guidelines
Privacy Policy
Your current identity is: Anonymous
Login
Preview
Subject:
Forum Index
»
Real Estate
Reply to "Only $35,249 for this apartment? Is it typo?"
Subject:
Emoticons
More smilies
Text Color:
Default
Dark Red
Red
Orange
Brown
Yellow
Green
Olive
Cyan
Blue
Dark Blue
Violet
White
Black
Font:
Very Small
Small
Normal
Big
Giant
Close Marks
[quote=Anonymous][quote=Anonymous]What is a ground lease?[/quote] Someone else owns the land under the building. It's more common in NYC. The original owner leased the land for say $50K per year for 50 years to the HOA. Someone else built home/apartments and then sold those with the disclosure that the ground lease is either renegotiated with the current unit owners (huge jump in price for annual lease) or landowner takes possession of existing structure and redevelops. It's not a bad deal if you're low income, can't afford the area, and own the unit in the early years post-construction. It's a death spiral in the last decade before ground lease ends because no one wants to invest in maintenance or improvements. [/quote]
Options
Disable HTML in this message
Disable BB Code in this message
Disable smilies in this message
Review message
Search
Recent Topics
Hottest Topics
